Financial Daily from THE HINDU group of publications
Saturday, Mar 18, 2006


Group Sites

Money & Banking - Co-operatives
States - Andhra Pradesh

Coop banks told to improve efficiency

Our Bureau

Co-op sector crisis of its own making, says AP CM

Hyderabad , March 17

The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, has advised the cooperative banks across the country to improve their efficiency levels so as to withstand the increasing competition from the commercial and regional rural banks.

Addressing the board of directors meet of National Federation of State Cooperative Banks Ltd (NAFSCOB) as chief guest here on Friday, Dr Reddy said, "In the light of the stiff competition from commercial banks and regional rural banks, the cooperative banks need to perform well or else they will have no option but to perish."

According to Dr Reddy, the liberalisation policies had come to stay and the cooperative banks would have to improve their efficiency and transparency in operations.

He described the crisis currently being faced by the cooperative sector of "its own making" and said the successive Governments "somehow never bothered about making them efficient."

Dr Reddy said the Congress-led Government in the State was, however, trying to make the cooperative sector vibrant.

More Stories on : Co-operatives | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bank unions to protest outsourcing

Forex reserves up $773 m
Cosmos ties up with Electra Card
Nucleus in pact with UAE bank
StanChart arms picks 16% stake in GTL
Andhra Bank loan for Cynosure bikes
UTI Bank opens branch at Alamuru in AP
PNB opts for status quo on statutory auditors
Exim Bank to lend $5 m to Ucal Fuel arm
AP plans strict action against errant MFIs
`Asia needs to focus on consolidation of banks'
Coop banks told to improve efficiency
ING eyes €100 m profits

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line